https://www.taxtmi.com/caselaws?id=77452 In a s.68 addition relating to share application money, the HC held that the assessee's initial onus is discharged by establishing the identity of share applicants (e.g., tax identifiers) and the genuineness of the transaction through banking channels as reflected in its books; thereafter the burden shifts to the Revenue to investigate, and mere non-traceability of applicants at the stated address does not justify invoking s.68. The assessee is not required to prove the "source of source." As the issue was covered by SC and prior HC precedent in the assessee's own case, no substantial question of law arose and the Revenue's appeals were dismissed as relitigation, with an advisory to avoid routine appeals on settled issues. en-us Mon, 02 Aug 2010 00:00:00 +0530 Sat, 10 Jan 2026 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77452 In a s.68 addition relating to share application money, the HC held that the assessee's initial onus is discharged by establishing the identity of share applicants (e.g., tax identifiers) and the genuineness of the transaction through banking channels as reflected in its books; thereafter the burden shifts to the Revenue to investigate, and mere non-traceability of applicants at the stated address does not justify invoking s.68. The assessee is not required to prove the "source of source." As the issue was covered by SC and prior HC precedent in the assessee's own case, no substantial question of law arose and the Revenue's appeals were dismissed as relitigation, with an advisory to avoid routine appeals on settled issues. Case-Laws Income Tax Mon, 02 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77452